Word: revlon
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Cincinnati-based giant is paying up for glamour. In a move to strengthen its worldwide beauty business, P&G (1990 sales: $24 billion) last week agreed to buy the Max Factor cosmetics firm and Betrix, a German makeup and fragrance manufacturer, from Ronald Perelman's debt-burdened Revlon for $1.14 billion in cash. The deal "speeds up the global expansion of the company by at least five years," said P&G chief Edwin Artzt, who has focused on foreign growth since he took over the top job last year. "It gives us an international base in the cosmetics and fragrance...
...deal means a measure of financial relief for Perelman, who acquired control of Revlon for $2.7 billion in a bitter 1985 takeover fight. To expand his cosmetics empire, Perelman subsequently paid some $300 million for Max Factor in 1986 and about $170 million for Betrix in 1989. Now, to pare his junk-bond debt, he has begun selling assets as fast as he once acquired them. What might be next? Perelman's advisers said the erstwhile raider could soon put on the block such tony cosmetics brands as Princess Marcella Borghese and Charles of the Ritz...
...batteries. Sales of dolls are up. Power dressing is out. One sign: shoulder pads, standard issue for the female corporate warrior, are finally disappearing from women's clothing. Even designers are getting into the act: Donna Karan and Bill Blass offer more congenially priced ready-to-wear fashion lines. Revlon's Charles of the Ritz has sprouted the cheaper Ritz Express skin-care line (1 oz. of Perfect Finish makeup: $10, vs. $25 for an ounce of Revenescence liquid foundation...
When Manhattan financier Ronald Perelman bought control of Revlon in a decidedly hostile 1985 takeover, he promised the treatment usually offered to the beauty behemoth's customers -- a complete make-over. In the years following the death of founder Charles Revson, the legendary line's earnings and stock price had faded faster than a bad dye job. Perelman re-established Revlon as an industry leader by focusing on its best-known products: cosmetics...
...Despite Revlon's about-face, Perelman is said to be looking for a new owner for all or part of his cosmetics kingdom, spurred by that ghost from the good times: debt. The company still bears an uncomfortably heavy $2.1 billion of liabilities from the original buyout and more recent, high-profile acquisitions like Max Factor and Almay. Rumored shoppers include Paris-based L'Oreal and Cincinnati's Procter & Gamble...